Customer Acquisition Channels For Entrepreneurs (S6E6)

WHAT YOU’LL SEE THIS EPISODE:

Get ready for a crash course on customer acquisition channels and applying the scientific method to attract attention and leads this episode. Just like our Bloxers, you’re probably used to the flow of things around here by now, so you know that after the lesson, you’ll see another daily challenge, followed by extremely insightful consultations, and the resulting Blox-Off. And of course, that means the leaderboard will switch up as well before the final showdown. Follow along closely, as the points get tighter and tighter and it could be anyone’s game. Stay rooting for your favorite Bloxer as they gear up for their final day in episode 7.

THE CREAM OF THE CROP GETS PICKED

Day Three’s pod winners begin Day Four with a delectable breakfast as they continue to size up the competition, who are “lions” according to one Bloxer.

The entrepreneurs gather for the next lesson, Customer Acquisition Channels For Entrepreneurs, a nod to the book Traction by Gabriel Weinberg. It’s essentially an entire class on how to get people into the acquisition phase, and it’s done by applying the scientific method. Half of the battle needs to be getting the attention for one’s brand, not just making the product better. We learn the whole gamut of channels that can be used for lead generation along with each channels’ pros and cons, and the contestants are then prompted to choose their three favorites.

Afterward, it’s time for the next challenge: craft a 3-minute pitch discussing how they will find 3 different customer acquisition channels and then run tests to identify the most effective ones. Judge Jarrett remarks how effective the lesson was, with many of his Bloxers having lightbulb moments on their different focuses.

The night’s Blox-Off starts off with an apology for how difficult it’s about to be. With no time to prepare, the winning contestants are tasked with giving the same presentation from earlier in the day, but with a larger budget for customer acquisition. The judges all are impressed with what they deem truly the best of the best. The Blox-Off rankings are announced and Chef Chew bids farewell as he is unable to attend the last day. The leaderboard, just like Mario Kart, has more switch-ups, and the day comes to a close before the final competition.

CUSTOMER ACQUISITION CHANNELS FOR ENTREPRENEURS

Traction is crucial for startup success, as it attracts investors, customers, employees, and more. The Lean Startup approach involves treating everything as an experiment and using data to guide decision-making. It applies not only to engineering but also to various aspects of business. There are multiple customer acquisition channels to consider, and founders should explore options beyond their own experience, asking strategic questions along the way to deem their best resource. To determine the most viable customer acquisition channel, run tests, assess cost, scalability, and clientele, and optimize the chosen channel. This process may take one to two years.

KEY TAKEAWAYS FROM THIS EPISODE:

  1. The Lean Startup is essentially applying the scientific method to startups. Launch sooner and small; treat everything we do as an experiment with no preconceived notions about it.
  2. There are roughly 20 customer acquisition channels, sometimes referred to as traction channels. Examples, Google Ads or Sales Conferences.
  3. Traction is immensely important for startups. Traction will get you investors, more customers, better employees, more press…and the list goes on.
  4. The 50% rule means that you spend half your time on product and half your time on customer acquisition channels.
  5. You have to be careful not to invalidate good customer acquisition channels when customers are saying no because your product isn’t there yet. Or your design isn’t there. Or your pricing isn’t there. Or you didn’t have enough time or money to create a large enough sample size. Otherwise known as having a “Leaky Bucket.”

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Meet The Judges

Andy Chan
Andy Chan
Right Rudder Aviation

Andrew Chan is the Chief Operating Officer and Co-Founder of Right Rudder Aviation. He holds several Federal Aviation Administration (FAA) certificates including Certified Flight Instructor Instrument-Airplane, CFI-Glider, and Airframe & Powerplant Mechanic. His instructional specialties include bush flying, aerobatics, and advanced transitions. Andrew is also the Manager of the Inverness Airport (KINF), and proudly serves on the Board of Directors of the Society of Aviation and Flight Educators (SAFE). Since 2016, Right Rudder Aviation has set out to make the dream of flight accessible to all. Starting with a single 1946 Piper Cub in the flight school, today RRA is a full service Aerospace firm. Conveniently located in Central Florida, RRA is a Fixed Base Operator (FBO), flight school, aircraft maintenance facility, and aircraft dealership. RRA represents and sells all Pipistrel products across the United States, and is the exclusive dealer for the highly praised and newly launched Pipistrel Panthera. Right Rudder Aviation focuses on improving all aspects of aviation for the next generation- from launching revolutionary training programs to electrifying aviation into the future.

Brittany Hays
Brittany Hays
South Sound Staffing

As the owner and founder of South Sound Staffing, Brittany is driven by a genuine desire to make a profound difference in the staffing industry. Being a family-owned agency, Brittany and her team go above and beyond to deliver exceptional service and unmatched dedication to their clients. With a customer-centric focus, they strive to provide the best staff, ensuring that employers find the perfect match for their organizations. Brittany’s extensive experience of over 10 years in the industry has honed her expertise, making her a true authority in the field. As a thought leader, Brittany is passionate about bridging the gap between employers and employees. She actively engages in discussions surrounding hiring, careers, staffing, leadership, and recruiting. By sharing her insights and expertise, she empowers both job seekers and employers to navigate the ever-evolving job market with confidence.

Chef GW Chew
Chef GW Chew
Founder & CEO of Better Chew

​​GW Chew, aka Chef Chew, is the Founder & CEO of Something Better Foods Inc. and has been a vegan food inventor/restaurateur for over 15 years. Adopted at birth into a family with the last name “Chew,” Chef Chew believes that he was born with a mission and purpose to change lives for the better, one chew at a time. Chef Chew grew up in the “country” amongst a family of very heavy meat eaters and noticed over time that a lot of different diseases, from diabetes to cancer, plagued the members of his family. He later discovered that many of those same diseases have been linked to poor diet and overconsumption of animal meat products. Inspired to begin living a healthy lifestyle, Chef Chew switched to a plant-based diet in 2001 and started experimenting with creating vegan food products in 2004. He painstakingly invented the Better Chew proteins in his mom’s kitchen and has perfected the textures and taste over the past 15 years.

Jarret Winkelman
Jarret Winkelman
JS Winkleman Consulting

Jarret Winkelman is an American business executive and serial entrepreneur. He specializes in establishing and growing companies from zero to multimillion-dollar revenue-generating businesses. Jarret was previously the founder and CEO of Incident Response Technologies (IRT), a GovTech company focused on providing solutions to first responders. Jarret bootstrapped IRT to the upper six figures in annual revenue, then raised $2.5M in venture capital to accelerate growth. IRT ultimately generated millions in revenue and served hundreds of customers throughout the United States and internationally. In 2021, IRT was acquired by The Riverside Company, a global private equity firm, and merged with their portfolio company Omnigo Software. In addition to remaining active as a thought leader and executive in the GovTech market, Jarret owns and operates a variety of business ventures including real estate investment firm Alpha Echo Properties, JSWinkelman Consulting, and Caddis Outdoors.

John Rake
John Rake
CTO BetaBlox, CEO BuildingBlox

John’s passion lies in helping entrepreneurs and startup founders launch amazing software into the market that customers love. He partners with early-stage companies, to help them validate their ideas, to build software that matters and that customers actually want to buy. John has helped many bold entrepreneurs solve big problems that create a lasting impact.

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